Demand for Gold Rises

February 27, 2012 by nicholasjbarnett

Global Gold Demand +21%

Global demand for gold rose 21% year on year to $55.19 billion in the fourth quarter of 2011, while demand by volume fell 2% to 1,017 tonnes according to the World Gold Council (WGC). Gold jewellery demand increased 5% to a record $25.86 billion, while demand by volume declined 15% to 476.5 tonnes. WGC noted that the combination of high and volatile prices increasingly led consumers to demand lighter-weight gold jewellery and forced the trade to react with jewellery items at lower price points. Chinese gold jewellery demand rose 26% to $7.13 billion during the quarter as it surpassed India, where demand fell 31% to $5.59 billion. Fourth quarter gold investment demand rose 46% to $23.24 billion while by volume, it grew 19% to 428.2 tonnes.

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